Everyone has read scaremongering articles about housing not dissimilar to prison cells in the world’s most popular cities where residents can cook their dinner and hang up the washing while not leaving the comfort of their beds.
Yet in recent times, far from being a last resort for those struggling to get on the housing ladder, micro-apartments are becoming a must-have for those wishing to test the water in a new city, as shown by recent successful schemes from the likes of Inspired and LiveWork.
Students, young professionals, entrepreneurs and those living away from home for the first time find the properties particularly attractive as a lifestyle choice, allowing them to live in the heart of cities at a reasonable price. Due to their compact layout, under 25 sq m, the units are leading the way when it comes to design, purpose built by developers with exciting and innovative storage solutions to be found in every corner.
Micro-apartments also offer attractive rental yields due to their small size and, as such, there has been a surge in demand from investors - music to the ears of developers.
They can be let out at costs that, compared with the average property or full-sized home, are relatively high per square metre, but that are also affordable to a younger tenant demographic making them an ideal investment.
Those new to the housing market also benefit from the low initial capital investment required to acquire the units.
Far from fearing the micro-apartment, investors are seizing the opportunity to snap up property in the most lively and attractive capitals in the world so are set to continue as a welcome sector of the property mix for years to come.
3 August 2017
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